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The use of digital, IT-based components in physical products is becoming increasingly relevant in practice. Surprisingly, the strategic impact of these "digitized products" has not received a lot of attention in IS research so far. Extant papers on the topic rely on ambiguous terminology (e.g., "smart products", "cyber-physical systems", "digital product-service systems") and underlying concepts differ widely. Based on an extensive literature review, this article provides an overview of the different terms and identifies five conceptual elements that form the building blocks of digitized products in research: "hybridity" (i.e., the combination of digital and physical components), connectivity, smartness, digitized product-service bundles (servitization of digitized products), and digitized product ecosystems. The implication for practitioners is that each element comes with different managerial challenges that companies need to address when incorporating the respective element in their products. The research implication is that each conceptual element is supported by different theoretical streams.
In its 100+ years of company history, IBM reinvented itself multiple times. In the last 20 years, IBM had shifted from individual products to integrated solutions and moved to become a globally integrated enterprise with standardized processes. In 2014, the expanding adoption of social, mobile, analytics, and cloud (SMAC) technologies generated excitement in the industry. IBM believed these technologies presented a huge growth opportunity. Simultaneously, management viewed SMAC technologies as disruptive forces demanding transformative changes to how IBM worked. And introducing new ways of working to 400,000 employees in 175 countries was a daunting task.
Based on personal interviews with 17 IBM business and IT executives, the case illustrates organizational challenges of introducing current technologies that even providers of these technologies face – in other words, when they “eat their own cooking.” It demonstrates the difficulties large companies face when implementing technologies that students use daily and take for granted.
The digital economy poses existential threats to — and game-changing opportunities for — companies that were successful in the pre-digital economy. What will distinguish those companies that successfully transform from those that become historical footnotes? This is the question a group of six researchers and consultants from Boston Consulting Group set out to examine. The team conducted in-depth interviews with senior executives at twenty-seven companies in different industries to explore the strategies and organizational initiatives they relied on to seize the opportunities associated with new, readily accessible digital technologies. This paper summarizes findings from this research and offers recommendations to business leaders responsible for digital business success.